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CNBC
Oct 2, 2012 9:00am EDT
citi note that underwriters are much tighter these days. so the risk is we have all the starts and the home builders are doing well but they will reach the point where the buyers can't get the credit they need and demand is gone. >> that's why when the toll brothers made it, they were in the process. it is one of those things, why aren't more people using the money and bernanke -- go buy a house, chairman. chairman bernanke, go buy an apartment for rental. what you'll see is unless you pay in cash or cut out the banks entirely and that hurts the rate of return, unless you're paying crash you'll tie yourself up for a really long time. evil gains are feeding into things. i do need to modulate here in the risk of the parts of corporations and the banks doing a 180. this is trauma from the financial corporation, which is okay. you want them to have some memory of it. >> i'm not a libertarian, okay? i believe in the law. i am not someone who says, we have to slash the regulations. i'm just saying, you know, the impotence is to not -- you go to a bank and say, well else do you want to st
CNBC
Oct 1, 2012 9:00am EDT
great profit center. but doesn't seem to matter. >> melissa mentions the citi call, the mcdonald's call, the marriott call. these analysts are -- it's not that they're down on the stock all of a sudden. it's that they're reweighing the risk/reward, we keep seeing that, the balance of risk/reward. >> it's what we started with. they can't come out and say, stick with marriott or stick with microsoft because the fed is easing. they have to deal with what i used to call because i was an art history guy in college, the four walls of the canvas. and they can't go outside of it. they're more rembrandt than they are cessa. >> i'm making i'm sure in the right century. >> good. >> they're not polak necessarily. >> they're saying, what the heck is going on with the earnings? this must have been what it was like to be a realist painter at the time. >> what are you guys doing? >> yeah. like, that's not a painting. and now it's going for $150 million. >> the realist guys are worth like $5 million. that's what the analysts are like. they're realists in a time when the impressionist fires have tak
CNBC
Oct 8, 2012 9:00am EDT
and ambitious spending, stimulus plans to rebuild the cities might have trouble running into funding for these projects. >> i think a lot of the data that we see today is catch-up. there's just not a lot of good news out there. the brightest spot in the economy is the united states. i think it was controversial last week. we got an unemployment number suddenly that was a grand conspiracy. i didn't see it that way because perhaps i'm not a black helicopter guy. but i do think that other than the united states, there's not a lot of momentum. and china and europe can pull the world down. you see today the world being pulled down. china is not doing much to help its situation. i think the estimates for china at 7 are wrong. it should be 5.6. >> change in power coming up in china. typically there is inaction on the part of the government in terms of huge programs where it be stimulus or not. many expect you may not get something substantive still march. there's also a great deal concern about the financial system. you hear it a lot. we all talk about the lack of validity of many of the st
CNBC
Oct 17, 2012 9:00am EDT
end of the year. >> yeah. but it's over and done with. we'll see how city stock does. as you know, carl, it was up yesterday. >> and a lot of discussion about how the board for better or worse owns this story. we'll see what they do with it. meantime, the second presidential debate is the talk of the nation. last night, the president came out swinging after that lackluster performance in the gop debate. our chief washington correspondent john harwood has made its way back from new york to englewood, new jersey, with a look at what's at stake and how this debate, john, like the first one, may have changed the trajectory of the race. >> carl, i suspect it won't change the trajectory as much as the first one did. there was more upside for mitt romney in these debates than there is for president obama in the second debate. when he may have stopped mitt romney's momentum. this was an incredibly pugnacious debate. i've never seen two guys in a general election go at each other quite the way they did. many points of contention. whether it was on their pension plan, china, the 47% which b
CNBC
Oct 5, 2012 9:00am EDT
. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] >>> get a market flash and go to courtney regan. >> thank you very much. take a look at shares of pure one. we're seeing them sit at levels we haven't seen since 2004. positive comments are out. the investment story is only just beginning. e commerce expected to drive sales. op op oppenheimer has increased their price target. >> it's the end of an era over at olive garden. >> when did you learn to be so generous. >> guess it runs in the family. >> olive garden, when you're here, you're family. >> after 14 carries the garden is scrapping the when you're here family slogan. parent restaurant is looking to a new tag line and it's called go ol
CNBC
Oct 23, 2012 9:00am EDT
services. boring. boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi® card to get the benefits of private pass. more concerts. more events. more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with a citi card. [ crowd cheering, mouse clicks ] >>> on a down day, the hard drive makers are the biggest losers. western digital reporting a first quarter bead. weak pricing and delays because of windows 8. you can see today it gets a sell rating over at capital iq on the back of those earnings. and seagate technologies reports next week, and it's suffering clit ral damage there. >> thanks a lot, bertha. today's selloff started overseas, and now there's only a few moments left in europe's trading day. going to be interesting to see how it affects us here in the u.s. >>> simon hobbs, art cashin made the point earlier on, if you need to sell, sometimes you go where the
CNBC
Oct 25, 2012 9:00am EDT
, it's very easy to be in a secular decline. whether it be radio shack, the old lafayette, circuit city. i remember when sharp was running circuit city. when i shop at best buy now, it is absolutely true, you call them, you deal with them and you just say wow, i would rather have amazon deliver the product to my house. >> there's also linens and things, bed, bath and beyond is now the best retailer. how does bby in everything that's kmod advertised. i wonder if there's room for any kind of return. >> bed bath, the stock was down hideously. it's taking out the millennium day. i have a bed bath that's very close to me. it's the first one, they're a jersey company, and i keep trying to price what amazon has, this is an impulse place, it does a lot of couponing. jc penny moves away from coup couponing. i do think that best buy in the end makes easily checkable products. what is that samsung? what number did you have on that tv? and then i go to amazon, i go to best buy. i price compare. i had the misfortune of trying to buy 60 inch best buy tv. i not that long ago, i wanted to do it on the
CNBC
Oct 16, 2012 9:00am EDT
talked to at citi, to say not in the works is being underplayed. >> there's shock at least among a handful of people who i talk to regularly at senior who are senior but no way aware of this. they are shocked. they heard it about an hour prior to the announcement being put out there. and, you know, it seems as though we don't know at this point, although we listen eed t andrew ross sorkin's report right now. there was some contention between board particularly new chairman o'neal and mr. pandit. one never knows. sometimes those relationships can blow up in one big argument where you get threats. who knows. we don't know. we won't know. what appears clear this was sudden, unexpected, this was highly likely to have been involuntary. >> that is one theory. but it's only a theory. there are other theories that this was a dispute over compensation. we should point out the coo is leaving. when the ceo and coo tend to leave together that is not generally seen as good. >> hey convenience and pandit have been there together for quite some time. hey convenience ran investment banking, ceo su
CNBC
Oct 31, 2012 9:00am EDT
generator moving on power. not every bank has every office open today. tough to get around the city right now. >> tough to get around the city. tough to get employees for many of these banks to where they need to be. a number of them -- many of them are working remotely. as you say, everybody is trying to be fully open for business. i have made a handful of calls this morning. it has been a mixed bag in terms of getting people out to offices given there is no mass transit in new york city which is really -- the fact that subways don't work is a stunning thing in this city. it's hard to make new york work without the subways. >> it's not even if people are in their offices. phone service is patchy when it comes to land lines and cell phones and there are some entire buildings, citigroup has a building at 111 wall, 1,800 employees there, they can't get into that building for weeks. >> look at this. this is context in which we're operating. this is cover of "the washington post." this is new york's katrina. obviously the death toll compared to that storm nowhere near approaching it but still
CNBC
Oct 29, 2012 9:00am EDT
. larry is in the city. he'll walk over to the exchange later morning just to do a site check. i think we're also going to work hard in the next 24 hours because we do as an industry have our eye on wednesday given that it is monday end. worst case scenario we hope we hope we would open on wednesday. >> this is a competitive marketplace. you have a war between nasdaq and you. was there anybody sunday night who just decided this is our chance to be able to show customers that we do not really exist as a physical presence. we can get it on and basically trump the other exchange because it doesn't seem like there's love and peace talk between you guys. >> i'm happy to report while everything you said is correct, there's not a lot of love and peace talk, everybody arises above it in a situation like this, jim. i'm happy to report there was not any indication of any calls last night that people were thinking about their own pnl or business model. trying to make a decision that was right for all of the market participants. we ended up doing that. my bias is to keep markets open but thi
CNBC
Oct 26, 2012 9:00am EDT
with the company. >> let's move on and talk citi. back in the spotlight this morning. sources telling "the new york times" bank's chairman michael o'neill was working behind the scenes for months and that pandit was summoned to a meeting telling him the board lost confidence in you. pandit then resigned immediately. >> it made it difficult from what i understand in terms of the relationship with the board, which was quite testy. we knew that day when it was announced something was awry. we reported quickly he had been forced out. i used the word fired. that's clearly the case. been waiting for a story like this to give us more. i've been doing reporting on this and having conversations but this is a nice story by the "times" in giving us that time line. we wondered when o'neill came in and i heard this antidotedly that he wanted this job. it has been said to me that this guy is running citi right now. that would seem to be the case from the reporting that's been done from the "times" in terms of the process he took to get board members over to his side to force out pandit. wit
CNBC
Oct 9, 2012 9:00am EDT
thousands of protesters. a swelling german anti-sentiment is growing in the city. we'll bring in carolyn roth joining us live from athens with the latest. talk about putting daniel in the lion's den. >> oh, yeah, the violence has flared up again over the last two or three hours. ms. merkle is a figure of hate for many greeks here who blame her for the many rounds of spending cuts. and you can hear it out there, the crowd is just gathering towards the center of the square. there's a lot of chanting, stone grenades being fired off, and you can smell tear gas everywhere. the protesters have hurled stones and water bottles at the police. and they have reacted by firing the tear gas. now they are trying to disperse the crowd here. i want to say for the most part up until maybe an hour ago the protests were fairly peaceful. we saw a clash and small skirmish on the outside fringes of the square, but again the violence has definitely picked up in just over the last 60 minutes. i just want to remind you that the two leaders held a press conference inside about a half hour ago. and ms. merkle once
CNBC
Oct 19, 2012 9:00am EDT
, and the candidates in the race of presidency showed their hue mouse sides last night in new york city. john harwood joins us from our nation's capital. were you at the dinner last night? >> i was not, i have was catching up on some sleep after long nights for the debates. we have a litting serious and b a little funny in the race for president. we're talking iowa and wisconsin. in iowa, president obama leads 51 to 43, that's a significant lead, and in wisconsin, the president leads by sixth. republicans have been hoping to make inroads, and it underscores some of the divide between national polls showing mitt romney doing much better, but in the electoral bottle grounds, we're talking about the eight or nine states that obama carried, romney has work to do, but last night, they were both doing stand up comedy. this is a traditional event that both candidates come to, both of them brought their humor. >> he knows how to seize the moment. >> the unemployment rate is at the lowest level since i took office, i don't have a joke here, i just thought it would be useful to remind everybody.
CNBC
Oct 4, 2012 9:00am EDT
of the city center because they won't find rooms available at the rates they're authorized to play, but that will vary market by market. i think ultimately the business and the vacationers will drive the rates in the next year. we talk about 5% to 7% next year, which is a pretty bullish number. >> as far as the headlines are concerned, you beat by four cents. is it fair to say that actually that's not due to demand and pricing. it's more to do with the fact that you've cut costs by $23 million more than you expected is and you brought more than expected which flants your eps figure. >> yes. i think the earnings report we reported today compared to what people were expecting was mortgagely driven by unusual or one-time items, admin costs, those sorts of things. our same-store sales numbers were less than expected an our fees were more or less than what was expected. so that's a fair comment. we posted really good growth, so we feel good about that. >> in the meantime you're also maintained your midpoint. you are tightening the range and lowering the top of that guidant. how bad is t
CNBC
Oct 30, 2012 9:00am EDT
because it's the last day of the month when traders prays their portfolios. meantime, new york city mayor is set to hold a news conference on sandy 45 minutes from now. we will go to that conference once the mayor begins his remarks. we'll hear from a number of ceos about how sandy has impacted their businesses. the heads of hartford financial and landry is among the top executives who will be joining us over the last few hours. how equity index futures are trading. will cease trading in 15 minutes time. the dow and nasdaq pointing d n down. as for europe, the action dominated by deutsche bank and bp. we do see green arrows across the board with a 1% gain in germany. >> at least 16 deaths blamed on sandy as the storm continues to wreak havoc on the northeast with new york and new jersey dechaired major disasters. overnight more than 200 patients have been evacuated from two nyu langone hospitals after backup power failed. millions on the east coast awoke without power or mass transit. an estimated 7.8 million are believed to be without power and experts say it could be several days
CNBC
Oct 18, 2012 9:00am EDT
. there's tier two and tier three cities, and the footprint could never be built out. it costs billions and billions of dollars to blanket the country. it doesn't cost much to be able to be in the big cities. no one can compete against verizon wireless and at&t and be able to have enough transponders and enough towers and just a gigantic amount of money. clearwire could never be in that race. sprint couldn't be in that race. sprint was falling short in this next generation. once again, we saw that at&t and verizon were pulling away so quickly, that even though sprint had very, very good performance, sprint had the iphone, sprint could not deliver through this country. >> no. i mean, listen, you see it in the numbers from verizon this morning. the old wire line business not so great, but wireless for verizon, i mean, they added 1.5 million post paid subscribers, jim. 220,000 prepaid. those are big, big numbers. its average revenue per account as opposed to average revenue peruser, it grew 6.5%. big numbers out of verizon on the wireless side. >> also, margins better than expecte
CNBC
Oct 15, 2012 9:00am EDT
with pck is off the table. >> on earnings and revenues sending citi shares higher. u.s. mortgage business and lending mexico helped boost results. >> microsoft's back in the music business unveiling a service that could compete with the likes of pandora and itunes. we have an exclusive with the head of their interactive entertainment straight ahead. softbank to buy 70% of sprint for $20 billion marking the largest ever foreign acquisition by a japanese company bringing together the third biggest mobile carriers of japan and the united states. it was said, i'm a man and every man wants to be number one, not number two or number three. masayoshi son. >> audacious two. one assumes he is rational as well. usually only rational people have that access to -- >> godzilla-like approach and looked like mothra. >> you know, it is a large deal. no way around that and, of course, somewhat complex try to break it down for you if you're a sprint shareholder you'll have the opportunity to ee will exto get either 730 in cash and/or own 30% of newco, new sprint and it will probably end up splitti
CNBC
Oct 11, 2012 9:00am EDT
morning an upbeat call interest citi group. the firm upgrading u.s. equities to overweight citing a combination of strong earnings momentum an easier central bank policy by the end of 2013, jim, they are projecting 16.15, which would be a gain of 12%. >> 24 hours ago, presprint of course, people had had given up on equities. the death of equities story came back again. it was amazing. you had a couple bad days, two of the worst days back-to-back since july 23rd, 24th. everyone wants to short everything. good luck to you. this is a fluid market. turn to alcoa as a way to look at it. alcoa says 2012 slowing down, china going to put on the jets 2013. everybody focuses on 2012. 2013 not in the ballpark. this is an exciting take again. you have deals, people saying don't give up on 2013. vice presidential debate tonight. fiscal cliff. the gulf between the bulls and bears, very big. >> that makes for what? volatility? >> i think so. i think it makes for every single earnings report being a volcker name. >> with that huge gap in between the bulls and bears, look at alcoa for instance, in t
CNBC
Oct 3, 2012 9:00am EDT
6. netflix the best performing stock on the s&p right now after citi reiterates its buy on the company following a consumer survey that indicates improving customer satisfaction and rising competitive position. metro pcs and leap wireless two of the wig losers following news pcs will merge with leap. let's get a look at the road match. the president and mitt romney facing off tonight in denver for the first presidential debate. we'll have a review of what will be covered and which candidate is likely to come out on top. plus lifelock making its trading debut. the stock trading down as much as 3%. ceo will join us live in a few moments. and silicon valley may be experiencing huge success, but the rest of california is struggling. find out why tech and social media might not be the economic engines the golden state needs. and the startup that could help you cut your cell phone bill in half. freedom pop ceo joins us. all that and more in the next hour. we'll start with kraft, though. the nasdaq investigating potentially erroneous trades today. want to send to bertha coombss for mo
CNBC
Oct 10, 2012 9:00am EDT
profit, up 22%, much more than six. >> tier seven cities the size of philadelphia, tier one, two, three, i love the tier one, tier two, tier three. >> costco. >> $1.39, beats $1.31, same-store sales up six, x fuel, where you made your money from 1981? >> yes. they were furious i didn't -- i haven't upgraded executive. it is my bad. i've been time constrained. >> a lot of discussion about how expense self they are relative to a walmart or a target, is valuation the main theme here? >> well, the stock is expensive priced for perfection. they deliver perfection, carl, as you know, it was perfection, a lot of people thought that post jim senegal they couldn't deliver, remarkable and not losing as much money on the big screen tvs as i thought. the 60 incher was under $2000 by best buy but you have an insulation problem and it's heavy and i need some guys. >> walmart years ago gave up giving us same-store sales. target is going to do that but costco still does, not worried about it at all and people say it's because everybody's so short term focus, we don't want them to be. this is one
CNBC
Oct 22, 2012 9:00am EDT
strain because the relative underperformance is costing the other side. the tale of two cities, it's the worst thing that could happen when active managers try to closet index. >> you try to skate to where the puck is going. that's how you're successful in investing and closet indexing as we pointed out that day, the closet index that all essentially got market weighting positions in apple. look at what happened last week in google. same thing, if you look at the mutual funds, the guy who tracked looked at it. google was the same thing. market weighted. why do you need to know about this? because when you get the closet index owning essentially the market weighting, where is the incremental buying coming from? you saw that in apple and google. he mentions to me, the gentleman who tracks this stuff, he says this is where the puck is going. take a look, we put a list together about where the closet indexes who are essentially trying to track certain indexes are underweight. china, financials, indonesia, bhp and select energy names. this is how when you track the closet indexes, y
CNBC
Oct 12, 2012 9:00am EDT
overweight. so why is citi so confident? joining us on the set, tobias, good morning. >> good morning, how are you? >> i'm actually slightly confused. spent much of the morning poring over this research. cnbc producers go swinging in all directions with excitement. you sat here, one month ago today, the 12th of september, and you said to us that your year-end target for next year was 1615 on the s&p. so a look at this thundering new vote. now you've upgraded u.s. secretaries equities 1615. the target is the same. i don't understand. what's going on? is this about downgrading japan? >> i think part of it is about downgrading japan. part is the earning revision momentum, changes around the globe, where the u.s. was where everybody else was, if you went back a few weeks ago. as everybody was downgrading earnings trends. and now the u.s. has kind of started to separate from what we're seeing around the world. and that does make sense to some degree. >> but to be clear, your view on this market is constant and other things are falling away beside you. >> to some degree, that's true. yes. t
CNBC
Oct 24, 2012 9:00am EDT
talked a lot about monetizing which is the opposite of what he said he was going to do in the s-1 if you recall. as you point out facebook up sharply. information on visa. a succession plan. citi may want to learn from them. this is way you do do. charlie sharp will become ceo to succeed joseph saunders. that will be effective november 1st. that is very quick. former director of visa and mr. saunders served the company ceo since 2007 continuing as executive chairman. it's a huge company with an enormous market value. we don't talk about it very often. >> it is a winner. a.m. lot of banks owned it. it's a community bank. >> $110 billion market value. >> we have buffett saying the right things. our network has tremendous power. don't even credit ourselves because there's humility. who was that company that disappointed yesterday? it was -- was it dow? no. doing better than expected. it was guys in wilmington and not the credit card company. that's what happens in this market. the memory is not long. china was good last night. i got up for china. went back to bed. it's good. i can sleep. >>
Search Results 0 to 22 of about 23